Retreat in US yields and Nvidia’s Earnings Provide Come Calm: SPDR S&P Semiconductor, Nikkei 225, Silver

Downside surprises in US flash purchasing managers index numbers have reflected a sharper moderation in demand for both the manufacturing and services sectors, which may challenge hawkish bets. This follows after bond yields turned lower in Europe on weaker-than-expected PMI readings as well. Thenow seems to be eyeing a reclaim of its 50-day moving average , which has given way just last week.

Bullish bets on Nvidia have also paid off. While its valuation has been lofty , its outperformance on all fronts continue to show no signs of slowing inmomentum, which provides the much-needed justification. Both its top and bottom-line have smashed expectations, while this quarter’s revenue guidance was also revised upwards – 27% higher than estimates. To top it off, the company has authorised $25 billion in share buybacks.

Ahead, the next highlight on the calendar will be Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, which will be due tomorrow . Until then, sentiments may continue to bask in the US AI/tech optimism, while keeping an eye on US jobless claims and durable goods orders, where any softer read may be looked upon to further cool tightening bets.

Perhaps one to watch may be the SPDR S&P Semiconductor ETF, which has seen a bounce off a support confluence lately . The February 2023 high at the 210.90 level will be an immediate resistance to overcome ahead, in order to pave the way to retest the 222.64 level next. A strong positive follow-through may be needed however, given that any turn lower could still run the risks of a potential head-and-shoulder formation.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Baidu Earnings: BIDU rises 4% following 43% increase in adjusted earningsBaidu (BIDU) stock surged in Tuesday’s premarket following the Chinese search giant’s release of a major earnings beat for the quarter ending June 30
Källa: FXStreetNews - 🏆 14. / 72 Läs mer »

Nvidia Q2 Earnings Results: NVDA pops to $515 on significant beat on earnings, revenueNvidia (NVDA) stock popped nearly 10% late Wednesday after walloping second-quarter consensus by a wide margin. The leading semiconductor designer rep
Källa: FXStreetNews - 🏆 14. / 72 Läs mer »

Baidu Stock Jumps as China’s Google Delivers Huge Earnings BeatChinese tech peers Alibaba and JD.com both saw their stocks sink after strong earnings but no outlook. Will Baidu follow suit?
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Källa: AP - 🏆 728. / 51 Läs mer »

Nvidia Stock Sold By Cathie Wood Ahead of Earnings, Buys More Zoom SharesThe investor's ARK Innovation Fund dumped the stock in January, missing out on most of the chip maker's meteoric 212% rise so far in 2023.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »